A MILLIONAIRE'S DEATH.

Press, Volume LXVIII, Issue 20496, 15 March 1932, Page 9

A MILLIONAIRE'S DEATH.

BLOW TO SWEDISH PRIDE. VAIN EFFORT TO BORROW £6,500,000. (UNITED I'RESS ASSOCIATION—BY ELZCTBTC TELEGRAPH— COPIRIOHT.) (Received March 14th, 8 p.m.) LONDON, March 14. Tho depreciation in the market value of the Kreuger Company's shares since 1930 exceeded £.100,000,000. The Stockholm correspondent of "The Times" says had Ivar Kreuger admitted his difficulties his countrymen would have jumped to his assistance to avert suicide, which is regarded as a severe blow to Swedish national pride. He had vainly tried to borrow £6,500,000, which was urgently needed for repayment on April Ist, to the Scandinaviska KreditAktiebolaget; otherwise he would have not been allowed to declare a dividend. Mr Ivar Kreuger controlled fourfifths of tho world's match supply. Ho habitually dealt with millions, the Swedish Match Company's capital alone being £20,000,000. A Stockholm mossage says that Mr Kreuger's death may bo followed by claims on the Kreuger undertakings. Tho Prime Minister (Mr C. G. Ekman) points out that the Moratorium Bill is not duo to the Government's fears of the banks' solvency. The banks have no cause for alarm and are opening as usual on Monday. Sir Arthur Stanley, a director of the British Match Corporation, holders of all the Bryant and May ordinary shares, announces that, although the late Mr Ivar Kreuger was a director of the corporation, it did not share in his financial operations. AN INTERNATIONAL SENSATION. SUICIDE CONSIDERED UNNECESSARY. ILL-HEALTH SAPS COURAGE. (Received March 14th, 10.45 p.m.) LONDON, March 14. Mr Ivar Kreuger's suicide has caused a sensation in two continents. A prominent Parisian business man says that the real tragedy of the suicide was unnecessary. Ho could have pulled through. His innumerable undertakings were individually sound, but the impossibility of. remitting moneys from certain countries hampered his transactions, while ill-health sapped his courage. It is believed that Kreuger met a number of big business men in Paris and reached the conviction that a French financial group was trying to wreck his companies.

Two years ago his concerns were valued at £160,000,000. On Saturday tho Stock Exchange valuation was £45,000,000.

The Kreuger loans to foreign countries included £7,000,000 to Hungary, £4,500,000 to Jugoslavia; £6,000,000 to Rumania, and £2,000,000 to Turkey,

Tho "Financial News" says: Had his death occurred three months ago it would have had, a catastrophic effect, and probably would have caused the suspension of the gold standard in several countries, but in the meantime tho international monetary situation is less unstable. A SCRIBBLED NOTE LEFT. (Received March 14th, 11 p.m.) PARIS, March 14. M. Littgrin, assistant-managing director of the Swedish Match Company, who was one of Kreuger's oldest friends, says he believes that he only decided to take his life a few minutes before he fired. He left a scribbled note saying: I tried, but could not see the use of going on. -

A MORATORIUM. EMERGENCY LEGISLATION IN SWEDEN. (Received Match 14th, 7 p.m.) STOCKHOLM, March 14. After fifteen minutes' debate both Houses of the Riksdag passed a Bill authorising the Government to grant individuals or companies short moratorium debts. The Kreuger-Toll Company asked for a respite till, the end of March, which tho Government will give.